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“Donor How To Series” — Part 1: How To Set Up A Scholarship Fund

Posted 02.16.12

Welcome to the first installment of our Donor How To Series. There are many ways in which donors may contribute to Central Scholarship. In this series, we’ll explain the most popular ways to give. To start off, let’s dive into one of the most commonly asked questions we get — “How do I set up a scholarship fund at Central Scholarship?”

In 2009, Kyle Patrick Wankmiller died suddenly and tragically. Just 17 years old, Kyle and his soon-to-be stepbrother, Connor Peterson, were struck by a light rail train in Lutherville, Maryland. To commemorate his life, Kyle’s grandparents, Mickey and Carole Fox, made a generous pledge of $100,000 to establish a memorial scholarship fund in his name. Their generous gift promises to help future Central Scholarship students and pays tribute to Kyle’s life for many years to come.

Central Scholarship has a long history of giving donors the opportunity to set up scholarship funds honoring loved ones. Our history of creating these funds dates back to the 1920s. Families have set up different types of funds, including memorial funds to honor the life of a loved one and establish a legacy.

Today, we continue to offer the opportunity to create named scholarship funds with a minimum $5,000 contribution. We also offer an option to maintain the name of the scholarship fund in perpetuity for a minimum of a $50,000 contribution.